GNAT cautions the government to avoid including pension funds in debt restructuring

The National Association of Teachers (GNAT) will stick to its agreement with the government to exempt their pensions from any debt restructuring programme, according to Thomas Tanko Musah, the GNAT’s general secretary. Mr Musah noted that none of the potential options from the government that would let trustees to incorporate pension funds in the debt restructuring scheme are known to the GNAT members.

Following multiple interactions, the Board of Trustees of pension funds was requested in a letter by the minister of finance, Ken Ofori-Atta, to take into account including such funds in the proposed debt restructuring plan.

To avoid mistaking a scheme’s claims for those of organised labour, Mr. Musah highlighted in an interview with Eyewitness News on Citi FM that a distinction must be established between organised labour and the different schemes that comprise organised labour.

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The first is that there is a difference between organised labour and individual schemes, which is significant. For instance, if a union official talks to the government or engages in negotiations, they are not speaking on behalf of organised labour but rather of their own agenda. Second, organised labour hasn’t discussed a haircut or a new round of negotiations with the committee to the best of Mr. Musah’s understanding. The people who spoke with the committee did so on favour of their plan, thus they cannot speak for organised labour.

“A person cannot speak on behalf of organised labour if they approach the government in the name of their plan. This is due to the fact that the agreement between the government and organised labour is binding on the entire body and that no one may speak on the organization’s behalf without first seeking approval from the group that made the decision.

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